VN-Index Closes at 1,746.9 as Brokerages Assess the Rally
The VN-Index rose 0.22% to 1,746.9 on November 11, though trading volume fell and declining stocks outnumbered gainers. Brokerages see scope for the recovery to continue toward 1,760–1,780 points, while cautioning that weak turnover and market volatility remain concerns.
On November 11, Vietnam’s VN-Index rose 3.83 points, or 0.22%, to close at 1,746.9. The index traded in a narrow range, volume fell from the previous session, and declining stocks outnumbered gainers. Vingroup stocks continued to support the index, with VIC and VHM contributing about 6 points combined; foreign investors were modest net buyers of more than VND 70 billion, mainly purchasing VIC, VHM and POW.
Brokerages expect the VN-Index could approach 1,780 points in the final two trading sessions of the week.（VietVance）
Ho Chi Minh City Securities (HSC) said the recovery has yet to be accompanied by a broad improvement in buying demand. In the short term, the index needs to break through resistance at 1,750–1,780 points to strengthen the recovery, while 1,700 points remains nearby support. ACBS expects the index to continue fluctuating between 1,720 and 1,780 points; trading volume needs to improve markedly for it to advance toward 1,780–1,800 points. Real estate stocks are currently providing the main support, while gains have yet to spread to most sectors.
ASEAN Securities (ASEANSC) said the index remains above its 10-session and 20-session moving averages, keeping the short-term outlook positive. If capital inflows improve, it could test 1,760–1,770 points, but current momentum is insufficient to establish a clear trend. Yuanta Securities Vietnam, meanwhile, said trading on November 11 largely reflected investor caution following the previous sharp rise. It expects the index could climb toward 1,760–1,780 points in the final two trading sessions of the week if bank and mid-cap stocks continue to improve.
On trading strategy, ACBS said investors could make small, exploratory purchases and avoid chasing gains as the index approaches resistance at 1,780–1,800 points. Vietcombank Securities advised investors to continue holding stocks attracting capital and use market fluctuations to increase their holdings, with a focus on banking, steel and real estate. ASEANSC recommended that short-term investors maintain moderate stock holdings; Yuanta Vietnam advised holding roughly half in stocks and half in cash, buying gradually during fluctuations while avoiding purchases across too many stocks.
Source: VietVance
